Supreme Court ruled 6-3 that the EPA lacked authority under the Clean Air Act to regulate greenhouse gas emissions from power plants through generation shifting, formally establishing the “major questions doctrine” for the first time by name in a majority opinion. Chief Justice Roberts …
Supreme CourtChief Justice John RobertsJustice Clarence ThomasJustice Samuel AlitoJustice Neil Gorsuch+9 moreclimate-changesupreme-courtjudicial-capturederegulationadministrative-state+2 more
Morton County Sheriff’s Department and allied law enforcement agencies attack approximately 400 peaceful water protectors attempting to cross Backwater Bridge near the Standing Rock Sioux Reservation with water cannons, tear gas, rubber bullets, and concussion grenades in temperatures as low …
Morton County Sheriff's DepartmentStanding Rock Sioux TribeMandan Rural Fire DepartmentStanding Rock Medic and Healer CouncilEnergy Transfer Partners+3 morepolice-violenceindigenous-rightsenvironmental-justicecorporate-powerexcessive-force+2 more
Supreme Court ruled 5-4 that aggregate limits on total contributions an individual can make to federal candidates, parties, and PACs over a two-year election cycle violate the First Amendment. Chief Justice Roberts authored the majority opinion, joined by Justices Scalia, Kennedy, and Alito, with …
Supreme CourtChief Justice John RobertsShaun McCutcheonRepublican National CommitteeJustice Anthony Kennedy+5 morecampaign-financedark-moneysupreme-courtjudicial-capturecorporate-power+2 more
Amazon founder Jeff Bezos personally purchased The Washington Post and its affiliated publications for $250 million, ending the Graham family’s four-generation stewardship of one of America’s most influential newspapers. The sale marked a watershed moment in billionaire media capture, …
Jeff BezosDonald GrahamWashington Post Companymedia-capturebillionaire-controlcorporate-powersurveillance-capitalism
Supreme Court ruled 5-4 that corporations can spend unlimited amounts on elections through independent expenditures, enabling creation of Super PACs and dark money networks. The decision dramatically reshaped campaign finance, allowing corporations and unions to spend unlimited funds on independent …
Supreme CourtCitizens UnitedFederal Election Commission (FEC)Justice Anthony KennedyJustice John Paul Stevensdark-moneycampaign-financesupreme-courtcorporate-powerfirst-amendment+1 more
L. Paul Bremer III, head of the U.S. Coalition Provisional Authority (CPA) occupation government in Iraq, issues Order 39 on foreign investment as part of his ‘100 Orders’ imposing what economist Joseph Stiglitz calls ‘arguably the most radical market shock therapy tried …
Paul BremerCoalition Provisional AuthorityGeorge W. BushIyad Allawishock-doctrineiraq-warprivatizationcorporate-powerneoliberalism+2 more
L. Paul Bremer III, appointed head of the Coalition Provisional Authority (CPA) on May 6, 2003, begins issuing binding orders with the force of law to radically transform Iraq’s economy from centralized planning to free-market capitalism. From May 6, 2003 until June 28, 2004, Bremer issues 100 …
Paul BremerCoalition Provisional AuthorityGeorge W. BushDonald RumsfeldDick Cheneyshock-doctrineiraq-warprivatizationcorporate-powerneoliberalism+3 more
The U.S. Department of Justice reaches a settlement with Microsoft on November 1, 2001, abandoning the structural breakup remedy ordered by Judge Thomas Penfield Jackson in favor of behavioral restrictions. The Bush administration DOJ, after taking office in January 2001, announces on September 6, …
U.S. Department of JusticeMicrosoft CorporationGeorge W. BushJohn AshcroftBill Gates+1 moreantitrusttech-monopolyregulatory-captureenforcement-failurecorporate-power+2 more
Indigenous organizations led by CONAIE and the Coalition in Defense of Water and Life (Coordinadora) launch a massive uprising in Cochabamba, Bolivia, blocking roads and marching on the capital to protest World Bank-imposed water privatization. Throughout the 1990s, Bolivia faced increasing pressure …
Bechtel CorporationAguas del TunariWorld BankHugo BanzerCoalition in Defense of Water and Life+2 moreshock-doctrinestructural-adjustmentworld-bankprivatizationbolivia+3 more
The U.S. Department of Justice, joined by Attorneys General from 20 states and the District of Columbia, files antitrust charges against Microsoft on May 18, 1998, alleging the company violated the Sherman Act by using its operating system dominance to thwart competition. The complaint charges four …
U.S. Department of JusticeMicrosoft CorporationBill GatesJoel KleinJanet Reno+1 moreantitrusttech-monopolyregulatory-capturecorporate-powerenforcement-failure+1 more
Citicorp CEO John Reed and Travelers Group CEO Sanford Weill announce on April 6, 1998, the merger of their companies to form Citigroup, a $140 billion conglomerate combining banking, securities, and insurance services under brands including Citibank, Smith Barney, Primerica, and Travelers. The …
Sanford WeillJohn ReedCiticorpTravelers GroupFederal Reserve+3 morederegulationregulatory-captureneoliberalismbanking-deregulationcorporate-power+2 more
Senate Majority Leader George J. Mitchell declares the Clinton administration’s Health Security Act dead, with the bill never coming to a vote in either chamber of Congress. The failure represents a devastating defeat for comprehensive healthcare reform after an intense lobbying campaign by …
Bill ClintonHillary ClintonHealth insurance industryHealth Insurance Association of AmericaPharmaceutical Industryhealthcareregulatory-capturelobbyinginsurance-industrycorporate-power+1 more
President Bill Clinton signs the North American Free Trade Agreement (NAFTA) into law, creating the first major free trade agreement to include Investor-State Dispute Settlement (ISDS) provisions binding developed nations. NAFTA’s Chapter 11 establishes corporate tribunals that allow …
Bill ClintonAl GoreRobert RubinNAFTA Corporate LobbiesMexican Government+1 morenaftafree-tradecorporate-tribunalsisdsinvestor-state-disputes+3 more
Kohlberg Kravis Roberts (KKR) completes the largest leveraged buyout in history, acquiring RJR Nabisco for $25 billion in equity ($31.1 billion including assumed debt) at $109 per share, establishing the template for private equity wealth extraction that will be replicated thousands of times over …
Under Reagan administration SEC Chairman John Shad, former vice chairman of E.F. Hutton, the Securities and Exchange Commission adopts Rule 10b-18, creating a ‘safe harbor’ from manipulation liability for corporate stock repurchases. Prior to this rule, large-scale share repurchases were …
Securities and Exchange Commission (SEC)John ShadRonald Reaganseccorporate-powerwealth-extractionstock-buybacksderegulation+1 more
Reagan’s Antitrust Chief William Baxter released the Department of Justice’s 1982 Merger Guidelines, fundamentally transforming how the federal government evaluated mergers and effectively repealing Congressional antitrust statutes through administrative policy. The FTC simultaneously …
William F. BaxterDepartment of JusticeFederal Trade CommissionRonald Reaganantitrustregulatory-capturechicago-schoolmerger-guidelinescorporate-power+1 more
The Department of Justice and AT&T finalize the antitrust settlement requiring the telecommunications giant to divest its seven regional Bell operating companies (Baby Bells) in 1984, breaking up the AT&T natural monopoly. However, this settlement paradoxically marks the end rather than …
AT&TDepartment of JusticeRonald ReaganRobert Borkantitrustmonopolyderegulationreagan-administrationcorporate-power
President Ronald Reagan appointed Stanford Law Professor William F. Baxter as Assistant Attorney General for the Antitrust Division, marking the formal beginning of antitrust enforcement collapse and the operationalization of Chicago School ideology throughout the federal government. Baxter, a …
Ronald ReaganWilliam F. BaxterDepartment of JusticeStanford Law SchoolSenator Howard Metzenbaumantitrustregulatory-capturechicago-schoolreagan-administrationenforcement-collapse+1 more
Jack Welch becomes CEO of General Electric at age 45 and delivers his landmark speech ‘Growing fast in a slow-growth economy’ in New York City, marking what is widely acknowledged as the ‘dawn of the shareholder value movement.’ Welch operationalizes Milton Friedman’s …
Jack WelchGeneral Electriccorporate-powerwealth-extractionlaborshareholder-primacymass-layoffs
Ronald Reagan’s inauguration marked the beginning of the most consequential transformation in American antitrust policy since the Sherman Act of 1890—an eight-year systematic dismantlement of competition enforcement that would enable four decades of corporate consolidation and monopolization. …
Ronald ReaganWilliam F. BaxterDouglas GinsburgRobert BorkFrank Easterbrook+3 moreantitrustregulatory-capturechicago-schoolreagan-administrationenforcement-collapse+2 more
The Second Circuit Court of Appeals upholds the NLRB’s finding that J.P. Stevens & Company engaged in the “most flagrant and extensive violations” of labor law in the board’s history, confirming over 100 unfair labor practice findings against the textile giant. Stevens …
J.P. Stevens & CompanyAmalgamated Clothing and Textile Workers UnionNational Labor Relations BoardCorporate Campaign Inc.laborunion-bustingnlrbtextile-industrycorporate-power+1 more
The U.S. Supreme Court decides Continental Television, Inc. v. GTE Sylvania, Inc., marking the first significant victory for Chicago School antitrust theory at the Supreme Court and signaling the beginning of judicial embrace of corporate-friendly antitrust doctrine. The decision reflects decades of …
U.S. Supreme CourtAaron DirectorChicago School of Economicsantitrust-abandonmentchicago-schooljudicial-capturecorporate-poweraaron-director
President Gerald Ford signed the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act), requiring companies to notify the Federal Trade Commission and Department of Justice Antitrust Division of large proposed mergers and wait 30 days before consummating transactions, giving regulators time to …
Gerald FordSenator Philip HartSenator Hugh ScottRepresentative Peter RodinoFederal Trade Commission+1 moreantitrustmerger-enforcementregulatory-frameworkcorporate-powerpremerger-notification
Economist Milton Friedman publishes his landmark essay ‘A Friedman Doctrine: The Social Responsibility of Business is to Increase Its Profits’ in The New York Times Magazine, establishing the intellectual foundation for shareholder primacy and profit maximization as the sole corporate …
Milton FriedmanChicago School economistscorporate-powereconomic-policywealth-extractionideologyshareholder-primacy
In his nationally televised farewell address from the Oval Office, President Dwight D. Eisenhower issued one of the most prescient warnings in American political history about the dangers of the military-industrial complex. The five-star general and Republican president who had led Allied forces in …
Dwight D. EisenhowerMalcolm MoosRalph WilliamsMilton Eisenhowermilitary-industrial-complexdefense-contractorsinstitutional-capturepresidential-warningcorporate-power
Congress passed the Celler-Kefauver Anti-Merger Act, championed by Representative Emanuel Celler (D-NY) and Senator Estes Kefauver (D-TN), fundamentally strengthening the Clayton Antitrust Act of 1914 and giving the government powerful new tools to prevent anticompetitive mergers. The Act closed …
U.S. CongressRepresentative Emanuel CellerSenator Estes KefauverHarry TrumanFederal Trade Commissionantitrustmerger-enforcementcorporate-powercompetitioncold-war
After World War II, as worker militancy swept the country, the right-wing struck back with the Taft-Hartley Act, passed by a Republican Congress over President Truman’s veto on June 23, 1947. The bill used the threat of communist subversion to justify rolling back advantages labor had gained …
Robert A. TaftFred A. HartleyCIOAFLCPUSAlabor-rightsred-scareinstitutional-capturecorporate-powerunion-busting
Over five million American workers engage in strikes in the year after V-J Day - the largest strike wave in U.S. history and the closest thing to a national general strike of the 20th century. Workers demand wages to match 16% inflation while their pay rises only 7%. Major strikes include 750,000 …
United Auto WorkersUnited Mine WorkersUnited Steel WorkersWalter ReutherJohn L. Lewis+1 morelabor-organizingstrikescorporate-powerpostwar-economyunion-rights
Corporate profits explode during WWII mobilization, with the largest 200 corporations more than doubling annual profits from $576 million (1936-39) to $1.225 billion (1940-44) - a 113% increase. Cost-plus contracting allows companies to inflate costs with lavish executive salaries while earning …
U.S. corporationsGeneral MotorsSteel industryWar Industries BoardCharles E. Wilsonwar-profiteeringcorporate-powerdefense-industryexecutive-compensationcost-plus-contracts
On April 29, 1938, President Franklin D. Roosevelt sends a special message to Congress warning that concentrated corporate power poses an existential threat to American democracy, using language that explicitly links economic monopoly with the rise of fascism. Roosevelt declares that “the …
Franklin D. RooseveltU.S. Congressconcentrated corporate interestscorporate-powerfascismantitrustnew-dealdemocracy+1 more
On Memorial Day, May 30, 1937, Chicago police open fire on peaceful union demonstrators outside Republic Steel Corporation’s South Chicago plant, killing ten people and wounding more than ninety in what becomes known as the Memorial Day Massacre. The police use tear gas, firearms, and clubs …
Congress passed the Robinson-Patman Act (RPA), co-sponsored by Senator Joseph T. Robinson (D-AR) and Representative Wright Patman (D-TX), prohibiting anticompetitive price discrimination by producers. The law responded to the growing power of chain stores like the Great Atlantic & Pacific Tea …
U.S. CongressSenator Joseph T. RobinsonRepresentative Wright PatmanFederal Trade Commissionantitrustregulatory-captureprice-discriminationcorporate-powersmall-business
The Supreme Court rules 8-1 in Bailey v. Drexel Furniture Co. (the Child Labor Tax Case) that the Revenue Act of 1919, which imposed a 10 percent excise tax on profits of companies employing children under age 14, violates the Tenth Amendment. Chief Justice William Howard Taft declares the tax …
William Howard TaftU.S. Supreme CourtU.S. CongressDrexel Furniture Companyjudicial-capturelabor-suppressioncorporate-powersupreme-courtchild-labor
The U.S. Supreme Court, in a 4-3 decision written by Justice Joseph McKenna, dismissed the government’s antitrust case against U.S. Steel Corporation, the world’s first billion-dollar company created through J.P. Morgan’s 1901 merger. The Court ruled: “We must adhere to the …
U.S. Supreme CourtJustice Joseph McKennaJustice DayU.S. Steel CorporationElbert Henry Garyantitrustrule-of-reasoncorporate-powersupreme-courtenforcement-abandonment+1 more
The United States government established the War Industries Board (WIB) to coordinate the purchase of war supplies between the War Department and Navy Department during World War I. The WIB existed from July 1917 to December 1918 to coordinate and channel production by setting priorities, fixing …
Bernard BaruchPresident Woodrow WilsonWar DepartmentNavy Departmentworld-war-icorporate-powergovernment-industryrevolving-doorinstitutional-capture
President Woodrow Wilson signed the Federal Trade Commission Act into law, establishing the FTC as an independent federal agency to prevent ‘unfair methods of competition’ and protect consumers from deceptive business practices. The Act fulfilled Wilson’s ‘New Freedom’ …
President Woodrow Wilson signed the Revenue Act of 1913, also known as the Underwood Tariff or Underwood-Simmons Act, slashing average tariff rates from 40 percent to 27 percent and establishing the modern federal income tax for the first time since 1872. Wilson made tariff reduction his first …
President Woodrow WilsonOscar UnderwoodDemocratic Partyprogressive-eratax-policytariff-policyincome-taxcorporate-power
Theodore Roosevelt accepted the Progressive Party nomination for president at a convention in Chicago, formally splitting from the Republican Party after losing the nomination to his former friend William Howard Taft despite winning nine of twelve state primaries. Roosevelt’s “Bull …
Theodore RooseveltWilliam Howard TaftWoodrow WilsonProgressive PartyRepublican National Committeeprogressive-erathird-partyrepublican-partypolitical-realignmentcorporate-power
Following a 1911 Sherman Antitrust Act lawsuit, the U.S. District Court for Delaware ordered the DuPont Powder Company dissolved and divided into three independent entities: the reconstituted DuPont, Hercules Powder Company, and Atlas Powder Company. DuPont had controlled approximately two-thirds of …
U.S. District Court for DelawareE.I. du Pont de Nemours & CompanyDuPont familyHercules Powder CompanyAtlas Powder Companyantitrustcorporate-powerenforcement-limitationsdupontpowder-trust
Polish women textile workers at the Everett Mill in Lawrence, Massachusetts walked out after discovering their employer had reduced wages by $0.32 when Massachusetts enforced a law cutting mill workers’ hours from 56 to 54 per week. The strike spread rapidly to more than 20,000 workers …
Industrial Workers of the World (IWW)Joseph EttorArturo GiovannittiAmerican Woolen Companylabor-organizingprogressive-eraimmigrant-rightscorporate-poweriww
The U.S. Supreme Court, in a 9-0 unanimous decision applying the new “rule of reason” doctrine, ruled that the American Tobacco Company violated the Sherman Antitrust Act and ordered the tobacco trust dissolved. Founded in 1890 by James Duke, American Tobacco controlled nearly 90% of …
U.S. Supreme CourtChief Justice Edward WhiteAmerican Tobacco CompanyJames Dukeantitrustcorporate-powersupreme-courtmonopolyrule-of-reason+1 more
The Supreme Court’s order to break Standard Oil into 34 separate companies produced a profound paradox: the breakup made John D. Rockefeller vastly richer while ultimately failing to prevent reconsolidation. Shareholders in Standard Oil received proportional stakes in each successor …
John D. RockefellerStandard Oil CompanyU.S. Supreme Courtantitrustcorporate-powerwealth-concentrationmonopolyenforcement-limitations
President William Howard Taft signed the Mann-Elkins Act, also called the Railway Rate Act of 1910, strengthening the Interstate Commerce Commission’s (ICC) authority over railroad rates and expanding federal regulation to telephone, telegraph, and wireless companies for the first time. The …
President William Howard TaftStephen Benton ElkinsJames Robert MannInterstate Commerce Commissionprogressive-eraregulatory-enforcementcorporate-powertelecommunicationsrailroad-regulation
After a dramatic 29-hour marathon session, the House of Representatives voted 191 to 156 to strip Speaker Joseph Cannon of his autocratic powers, removing him as chairman of the Committee on Rules and expanding its membership from five to 15 members. Representative George William Norris of Nebraska, …
Joseph CannonGeorge William NorrisPresident William Howard TaftProgressive Republicansprogressive-eracongressional-reformrepublican-partycorporate-powerpolitical-realignment
President William Howard Taft signed the Payne-Aldrich Tariff Act and infamously praised it as “the best tariff bill the Republican party ever passed,” betraying his 1908 campaign promises for meaningful tariff reform and triggering a permanent split within the Republican Party. Taft had …
President William Howard TaftNelson AldrichProgressive RepublicansOld Guard Republicansprogressive-eratariff-policyrepublican-partycorporate-powerpolitical-realignment
When Theodore Roosevelt left office on March 4, 1909, his administration had filed 44 antitrust lawsuits (18 civil and 26 criminal cases, resulting in 22 convictions and 22 acquittals) against major corporations including Northern Securities, Standard Oil, American Tobacco, the Beef Trust, and Du …
Theodore RooseveltWilliam Howard TaftJ.P. MorganU.S. Department of JusticeInterstate Commerce Commissionantitrustcorporate-powerprogressive-eraregulatory-enforcementpresidential-legacy
On the morning of Saturday, November 2, 1907, during the Panic of 1907 financial crisis, J.P. Morgan convened a meeting at his library proposing that U.S. Steel—which already controlled 60% of the steel market—purchase stock in the insolvent brokerage firm Moore & Schley, which had borrowed …
Theodore RooseveltJ.P. MorganElbert H. GaryHenry Clay FrickU.S. Steel Corporation+2 moreantitrustcorporate-powerfinancial-crisisprogressive-eraregulatory-capture
On July 19, 1907, the Roosevelt administration’s Department of Justice filed a major antitrust petition against the American Tobacco Company after one of its subsidiaries was indicted for price-fixing in the Southern District of New York. The suit charged sixty-five companies and twenty-nine …
Theodore RooseveltU.S. Department of JusticeAmerican Tobacco CompanyJames Buchanan Dukeantitrustcorporate-powerregulatory-enforcementprogressive-eramonopoly
On June 29, 1906, President Theodore Roosevelt signed the Hepburn Act into law after a month of conference committee reconciliation, with the Senate passing it 71-3 and the House by substantial margin. The Act fundamentally strengthened the Interstate Commerce Commission, giving it power to set …
Theodore RooseveltRepresentative William HepburnInterstate Commerce CommissionRailroad companiesU.S. Congressrailroad-regulationregulatory-enforcementprogressive-erainstitutional-expansioncorporate-power
Upton Sinclair published “The Jungle” on February 26, 1906, after serializing it in the Socialist newspaper Appeal to Reason from February to November 1905. The 26-year-old writer spent seven weeks in fall 1904 investigating Chicago’s “Packingtown”—a dense complex of …
Upton SinclairDoubledayAppeal to Reasoninvestigative-journalismmuckrakinglabor-rightspublic-healthcorporate-power+1 more